How To Register a Group Company in Nigeria
According to the Companies and Allied Matters Act (CAMA), a Group company comprises of three or more associated companies with common ownership. These companies become the shareholders of the distinct “Group” company. The law prohibits the use of the word “Group” in the name of a company except the requisite consent of the Registrar General of the Corporate Affairs Commission (CAC) is sought and gotten.
Requirements for a the registration of a group Company:
- Make a formal application to the Registrar General for consent to use of the word “Group”
- There must be evidence of a minimum of three (3) or more associated companies to form the Group Company, which will be the distinct entity.
- Evidence of similar names of associate companies with common shareholders and ownership.
- There must be a resolution of the associate companies indicating consent to the “Group” relationship.
- The updated Annual Returns of all associate companies must be provided.
- Evidence of Company secretary of associate companies.
- Statement by the proposed Group Company that the share capital shall not be less than the highest share capital amongst the associate companies.
- Evidence of compliance with S.553 CAMA where applicable.
- The Consent letter should state the names of companies to be part of the group
Upon obtaining the Consent, the Applicant can go ahead to register a new company with the same procedure for the registration of a new company.
Team 618 Bees
618 Bees can quickly and easily help you register a Group Company in Nigeria. Log on to our website www.618bees.com or email email@example.com, or give us a call on +2349017190079. 618 Bees will complete your application with the Corporate Affairs Commission (CAC).
The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached